@mannyawasom: A property can look great on paper until the big-ticket items start showing up. Roofs. HVAC. Water heaters. Appliances. Parking lots. Building systems. They may not hit your P&L every month, but eventually something has to be replaced. That’s why I underwrite replacement reserves. The question isn’t whether every dollar will be spent each year. It’s whether you’re accounting for the reality that buildings age and capital needs don’t disappear just because they’re not on the seller’s T12. Ignoring reserves can make your projected cash flow look better. It doesn’t make the property perform better. Underwrite the asset you actually have to own. 📍 msadatainsights.com/blog #Multifamily #Underwriting #RealEstateInvesting #CommercialRealEstate #ApartmentInvesting

Manny Awasom

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Region: US

Wednesday 19 August 2026 18:16:21 GMT